Held that the assessee had evidently demonstrated the status of the carried forward and set off business loss declared in its return of income and those assessed by the Assessing Officer and had supplied the relevant details in respect of carry forward of business losses and its set off in the returns filed by it right from the assessment years 2010-11 to 2017-18. The returns could not be termed incorrect or erroneous or false. The assessee’s claim was based on the position it had taken starting right from the assessment year 2010-11 to the assessment year 2014-15. Hence, no liability would arise for imposition of penalty under section 271(1)(c) of the Act.(AY.2014-15)